#DLF #DAILY DLF - Double Inside bar formed in daily.
take trade buy/ sell once crosses high / low of mother bar respectively.
Equity
Stocks Looking Weak...Stocks caught a lift from 4188, testing 4214, as we said they would in the last report. The S&P appears to be making a run for highs, however these rallies are very weak with respect to what is needed to break the resistance we will see as we approach highs at 4245. If we do not see this momentum, we will likely retrace back down to 4144 or 4122 unless 4188 provides support. The Kovach OBV is completely flat, so unless we can get a burst of momentum, we should see a continuation of the range at the very best.
$VIACA ViacomCBS. Return to normal uptrend.After a brief stint at +$100 levels, this one has returned back to the uptrend line. The heavy sell off was after a once off event where the bankrupt Archegos Capital Management hedge fund was a forced seller. Online streaming services are out for the hunt and after the news broke of Amazon's buyout of MGM, content providers like Viacom CBS could become targets for these online streaming monsters in future. George Soros also became interested in buying up Viacom CBS shares at current levels. In a rich market, once off events like these create opportunities.
I have a position at $45
Stocks Ranging Before the BreakoutStocks have retraced a bit after encroaching upon the 4214 level. We still believe they are gearing up for another breakout and that 4068 is a bottom for now. We are likely to see either continued ranging here or a further retracement before the breakout. This is supported by a waning Kovach OBV. The levels 4188 and 4178 are providing good support. If these do not hold, then consider 4144 or 4122. The next major target is highs at 4245.
Stocks Ranging, Breakout Soon??Stocks have met resistance at 4214, another one of our levels. They have since leveled off and ranged a bit, finding support at 4188. It does look like we are forming a bull flag at the moment, but it could go either way. The Kovach OBV is still bullish, but has sloped off drastically. We will need another jump start in momentum to attempt higher levels like 4228 or 4245. A retracement could easily take us back to 4144, or even 4122, so watch for momentum at the open.
$JSEKAP First target reachedFirst target was reached 439 after the initial cup and handle formation (green). A flag was build and broke to the upside. Next target is 500.
$JSEBLU Bear flag ? Possible bear flag developing here. Still early days, but I would keep an eye on this pattern. If the flag breaks to the downside, 350 would be possible once again. I you are a current shareholder I would wait and just watch this pattern rather than pre-empt and sell.
Stocks Ready for a Breakout??The S&P keeps edging up to higher levels. We anticipated the next level at 4214, and that is exactly what transpired. Broadly, we anticipate some ranging between 4068 and 4245 as the S&P considers making a run for new highs, eventually. Watch for resistance at these upper levels including 4214, 4228, and highs at 4245. We will see support from 4188, 4178, 4144, and 4122. The Kovach OBV is strong, but not as strong as it gets when stocks are in ultra bull mode.
Is the S&P 500 about to move higher and break all time high?Hey Traders so ocasionally I watch other markets related to the Forex and one of them is the S&P 500. I think this is good market to keep an eye on because it can influence other markets especially the dollar and pairs like USD/JPY. So I have noticed that the S&P 500 has been in a long term uptrend with no signs of stopping anytime soon. It looks like it's about to break a new high in the coming weeks or even tommorow!
Enjoy!
Trade Well,
Clifford
(All opinions expressed are for educational purposes and this is not a recommendation to buy or sell)
(Always use risk management before entering any trade)
(Past performance is not guaranteed for future results)
looking for bottom buy on MKD for long term equity holdMolecular Data has plenty of insider holdings, as well as institutional, signifying continued faith in the companies future prospects. The institutional shares at ~16% could pose a selling hazard eventually, as MKD doesn't have history of growth, if the company fails to deliver upon expectations. At the same time, such a large number shows obvious interest for a company with such a small market cap. So what appears as a double-edged sword, feels more purely beneficial to me. Nullifying further risk, the institutions hold less than either the public or the insiders respectively- at 18% and 21%. There is not enough data to see recent insider selling and buying, however, Dongliang Chang (Top Key Executive) appears to hold a whopping 13% of shares outstanding. Notably, 57% of the company's stock is held by just 5 entities.
Analyst predict 27% growth for the company over the next 1-3 years, but MKD earnings have supposedly been declining 20% a year since listing. Shares have also been diluted by 20% this past year, according to my research.
So back we are again to a double-edged sword. MKD does have a PT of $9, listed at $6 in Dec. '19, and is currently trading ~.82c a share.
One thing that is certain- in this market there are limitless amounts of overvalued, poorly structured companies' shares available for purchase. And with most all of them getting positive Price Action in this recent bull market, MKD has not received the same amount of attention and has plenty of room to rise.
As a small account trader, i own just 50 shares @.85c. This is NOT a recommendation to trade MKD in any manner whatsoever.
Breakout in Stocks??Stocks are finding resistance at 4188, exactly as we had mentioned. We appear to be seeing a sideways consolidation pattern as they potentially gear up for a breakout later. Watch the open, if we do not see momentum, the S&P will reject 4188 like it did last week. It will likely test 4068 if that is the case. we could be seeing a bull wedge forming suggesting a breakout might be near. The next target after we break this range would be 4214. Then highs at 4225 are in sight.
S&P500 still latently bullish...Reviewing the S&P500 futures ES1! weekly chart...
The candlesticks are suggesting some bullish upside to surprise as the tails are at the bottom, when prices are at the top/ATH. The tails keep the index bouyant above the support region (yellow rectangle). This is in contrast to the expectation for a retracement, and instead may extend higher. The volumes are still strong and healthy.
However, the RPM and MACD are conflicting, with the short term RPM crossing up in a downward spiral, and the MACD crossing down.
Looking at the Top 8 traders and Non-commercial net position, there are less bearishness in the recent weeks.
My take is a bullish bias. :)
Stocks Facing ResistanceStocks have returned to 4178, exactly the level to which we alerted you yesterday. This and 4188 will provide resistance and the S&P is likely to range for a bit in a sideways correction after last month's rally. The range appears to be bounded from above by the levels just mentioned, and from below by 4068. Watch for it to form a consolidation pattern like a bull wedge before attempting another breakout, which would take us back to 4214, or if we are feeling ambitious, to highs at 4245. The Kovach OBV is picking up strength, but we will see at open if this is enough to break current levels. If momentum does not come through at the open, or its paltry, we are highly likely to reject those upper levels and retrace to 4144 at least. This would make a great short trade.
Stocks Struggle for SupportStocks found support at 4068. The S&P made an attempt at a breakout but this was quickly thwarted by resistance at 4122. It looks like we finally found some stability around current levels and may be ranging or consolidating as we gear up for another attempt at a breakout. There is still a lot of down side risk, and the Kovach OBV is still pretty bearish. Another tumble could easily take us to 4009, which is the last level of support in the 4000 handle. If we can muster some momentum we will next find resistance at 4178 and 4188.
Stocks Struggling To Break OutStocks found support at 4144, as we anticipated they would. They are currently testing 4178 and 4188, perhaps in the process of forming a bull wedge pattern before potentially breaking out to higher levels. Momentum at open will be critical to achieve higher levels. The Kovach OBV is still struggling to recover from the massive selloff, suggesting that we aren't seeing enough momentum just yet, at least with respect to that. There is a vacuum zone above our current levels to 4214. If we break out, this will be the next target. If not, there will be support at 4122.
Stocks Pare Back LossesStocks have recovered much of their losses from the selloff last week. We found support at 4040, over 200 points below highs. The S&P has retraced back to what appears to be a POC at 4188. We appear to be ranging just under this, and will find support from 4144. The Kovach OBV is gradually drifting up but the momentum here is paltry with respect to the selloff. It will take a great deal of momentum to bring us back to highs at 4245. A further selloff could take us back to lows at 4144.
Keppel Corp BN4 [1-3 weeks view]This is an analysis for a client.
Technical indicators showing room for further bearish momentum
Bounce before chance of a further drop.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
Stocks Pare LossesStocks have rebounded from lows at 4040 or so, retracing about half of the massive selloff from earlier this week. We are currently testing resistance at 4144. The Kovach OBV is still pretty flat which suggests that this buy back was paltry with respect to the momentum of the selloff. Therefore, we are less likely to break current levels unless we have a significant wave of momentum come through at open, which could take us back to 4178 or 4188. Another selloff could take us back through the vacuum zone to 4073.
Stocks Continue to Dump!!The S&P has tumbled further to lower levels. We have broken a key level at 4073, and is currently in the middle of a vacuum zone that was created by the huge rally in stocks in April. We do appear to be finding some support at 4045, as suggested by the green triangle in the KRI. If so, this will constitute a new technical level. The next level of support is 4009, which is quite further. The Kovach OBV is extremely bearish, and the Kovach Chande has also dipped, suggesting we are in oversold territory and a short position might be FOMO at this point. However, it may not be a good time right now for a long position either, as we could easily test 4009.
Stocks Find Support!!Stocks have sold off for two days in a row. However we appear to have a double bottom at 4122. This was a significant technical level to which we alerted you many times, so hopefully you were prepared. This level might be a great point to add to a long position, and the risk management is pretty clear. Below 4122, we have a vacuum zone to 4073, so it would be advisable to keep a narrow stop loss. From above, 4178 and 4188 will provide resistance. We have a little bit to go before highs at 4245, so it is unrealistic to expect to see this level again today.
US100 - Overnight Supply - Sell Limits HitHaving seen the price action take the buy limit orders placed in the overnight session, it was good to see the sell limit orders taken in the US session.
Would have been a good trade to catch.
The TP 1 has a 66% chance of hitting after the Initial Balance and that could be the turning point ahead of tomorrow's US inflation data.
TP 2 had a 33% chance of being hit as seen in yesterday's trades.
